OKLAHOMA CITY, Nov. 18 /PRNewswire/ -- El Dorado Chemical Company ("Company"), a subsidiary of LSB Industries, Inc. (AMEX: LSB) ("LSB"), has announced the acquisition of the concentrated nitric acid plant and related assets of the Joliet, Illinois Army Ammunition Plant. The plant which had been used 1-1/2 years and would cost approximately $40 million to replace today will be disassembled and moved to the Company's existing plant site in El Dorado, Arkansas in early 1994. It is planned to be operational by January 1995. The estimated cost to the Company to buy and install the additional plant is approximately $12 million.
The acquisition will increase the Company's concentrated nitric acid capacity by nearly 65 percent. In addition, the existing regular nitric acid capacity will be converted to the production of additional agricultural and blasting grades of ammonium nitrate ("AN") with a market value of approximately $15 million.
Jack E. Golsen, chairman of LSB Industries, Inc., stated that the Company believes that the plant provides the latest, most efficient technology, and will assist in achieving the Company's goal of continuous product quality improvement.
LSB is a diversified company engaged in a variety of manufacturing, engineering, marketing and financial service activities on a world wide basis. LSB's principal business activities consist of the manufacture and sale of chemical products for the explosives, agricultural and industrial markets, commercial and residential air conditioning products, automotive and industrial products, and the financial services business. LSB's common stock is listed for trading on the American Stock Exchange.
-0- 11/18/93
/CONTACT: Tony M. Shelby, chief financial officer, LSB Industries, Inc., 405-235-4546/
(LSB)

CO: El Dorado Chemical Company ST: Oklahoma IN: CHM SU: TNM

LG -- NY069 -- 6068 11/18/93 13:10 EST

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